China retaliates to EU ban with import restrictions on medical devices
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Time of India
31 minutes ago
- Time of India
Centre plans 'battery passport' to boost EV safety, quality & exports
A battery passport serves as an Aadhaar identity of sorts, with every battery having a unique ID that provides all information on the product NEW DELHI: In a move that will help owners of electric vehicles (EVs) get precise details of the batteries being used, India will soon have its own "Battery Passport" regime. Under the system, the specifications of every battery, including its origin, performance, composition, end of life and the entire supply cycle will be captured digitally and embedded in a QR code. Niti Aayog has started deliberations with ministries and govt departments on the proposed framework, sources said. Officials highlighted that a battery passport serves as an Aadhaar identity of sorts, with every battery having a unique ID that provides all information on the product. The initiative will not only improve safety and quality standards but also accelerate export of EVs from India. Significantly, India is offering incentives to global EV players to set up plants and export their vehicles from India. It will also be crucial when govt rolls out a battery swapping policy for vehicles, allowing owners to access details of batteries by scanning the QR code printed on them. The need for such a regime was first felt after a series of fire incidents involving electric two-wheelers and cars. Industry insiders said there had been instances of companies importing battery cells of different vintages and using them as part of the same modules. "When cells made in different years are joined together, there is more load on new cells, as the older ones are closer to their expiry date. Such a module impacts performance and can be a safety hazard," said a source. Officials privy to govt's plan said once the battery passport system is implemented, it will be possible to ensure that cells in any battery are manufactured in the same year. Through it, users will get to know about the lifecycle and performance of batteries, which is key considering they account for nearly 40% of the costs of EVs, an official said. A source said, "This move will help achieve three major goals: trade (export of electric vehicles), safety and quality". The European Union in 2023 enacted the Battery Regulation making it mandatory for every industrial or EV battery in EU with a capacity of over 2 kWh to have a battery passport. It will come into force on Feb 1, 2027. The battery passports will require inputs from mining and refining companies, cell and battery producers, vehicle brands, and battery servicing, refurbishing, and recycling companies. The EU rules specify that the battery passport must contain all information, including unique identifier, basic characteristics of the battery including type and model, updated statistics on performance and durability, and carbon footprint specific to the manufacturing site and batch of batteries. This information will need to be selectively shared with three groups: the general public, regulatory bodies, and battery service and end-of-life processors.
Time of India
an hour ago
- Time of India
Brazil's president tells Trump world does not want 'emperor' after US threatens BRICS tariff
Developing nations at the BRICS summit on Monday brushed away an accusation from President Donald Trump that they are "anti-American," with Brazil's president saying the world does not need an emperor after the U.S. leader threatened extra tariffs on the bloc. Trump's threat on Sunday night came as the U.S. government prepared to finalize dozens of trade deals with a range of countries before his July 9 deadline for the imposition of significant "retaliatory tariffs." The Trump administration does not intend to immediately impose an additional 10% tariff against BRICS nations, as threatened, but will proceed if individual countries take policies his administration deems "anti-American," according to a source familiar with the matter. At the end of the BRICS summit in Rio de Janeiro, Lula was defiant when asked by journalists about Trump's tariff threat: "The world has changed. We don't want an emperor." "This is a set of countries that wants to find another way of organizing the world from the economic perspective," he said of the bloc. "I think that's why the BRICS are making people uncomfortable." Live Events In February, Trump warned the BRICS would face "100% tariffs" if they tried to undermine the role of the U.S. dollar in global trade. Brazil's BRICS presidency had already backed off efforts to advance a common currency for the group that some members proposed last year. But Lula repeated on Monday his view that global trade needs alternatives to the U.S. dollar. "The world needs to find a way that our trade relations don't have to pass through the dollar," Lula told journalists at the end of the BRICS summit in Rio de Janeiro. "Obviously, we have to be responsible about doing that carefully. Our central banks have to discuss it with central banks from other countries," he added. "That's something that happens gradually until it's consolidated." Other BRICS members also pushed back against Trump's threats more subtly. South African President Cyril Ramaphosa told reporters that the group does not seek to compete with any other power and expressed confidence in reaching a trade deal with the U.S. "Tariffs should not be used as a tool for coercion and pressuring," Mao Ning, the Chinese foreign ministry spokesperson said in Beijing. The BRICS advocates for "win-win cooperation," she added, and "does not target any country." A Kremlin spokesperson said Russia's cooperation with the BRICS was based on a "common world view" and "will never be directed against third countries." India did not immediately provide an official response to Trump. Many BRICS members and many of the group's partner nations are highly dependent on trade with the United States. New member Indonesia's senior economic minister, Airlangga Hartarto, who is in Brazil for the BRICS summit, is scheduled to go to the U.S. on Monday to oversee tariff talks, an official told Reuters. Malaysia, which was attending as a partner country and was slapped with 24% tariffs that were later suspended, said that it maintains independent economic policies and is not focused on ideological alignment. MULTILATERAL DIPLOMACY With forums such as the G7 and G20 groups of major economies hamstrung by divisions and Trump's disruptive "America First" approach, the BRICS group has presented itself as a haven for multilateral diplomacy amid violent conflicts and trade wars. In a joint statement released on Sunday afternoon, leaders at the summit condemned the recent bombing of member nation Iran and warned that the rise in tariffs threatened global trade, continuing its veiled criticism of Trump's tariff policies. Hours later, Trump warned he would punish countries seeking to join the group. The original BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates as members. Saudi Arabia has held off formally accepting an invitation to full membership, but is participating as a partner country. More than 30 nations have expressed interest in participating in the BRICS, either as full members or partners. Economic Times WhatsApp channel )
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First Post
an hour ago
- First Post
2 trade deals and 2 in the works: Was Trump forced to extend his deadline?
Trump has delayed his plan to impose new tariffs on trading partners until August 1, amid slow progress on trade talks and rising concerns about economic and diplomatic fallout. So far, only two trade deals have been reached, leaving many countries facing the threat of steep tariffs. read more US President Donald Trump boards Air Force One at Morristown Airport as he departs for Washington, in Morristown, New Jersey, US, July 6, 2025. File Image/Reuters President Trump has pressed ahead with plans to raise tariffs on America's trading partners, but his original July 9 deadline for imposing new 'reciprocal' tariffs has now been delayed to August 1 for most countries. The White House said the extension is meant to allow more time for negotiations, but limited progress so far suggests Trump may have been forced to push back the timeline to avoid economic turmoil and diplomatic backlash. STORY CONTINUES BELOW THIS AD Despite Trump's earlier pledge to secure '90 deals in 90 days,' only two preliminary agreements have been reached so far — one with Britain and one with Vietnam. Both are broad frameworks rather than full trade pacts and still require further negotiations. The deal with Vietnam includes a 20 per cent minimum tariff, which is lower than the threatened 46% but higher than the previous 10 per centbase rate during the tariff pause. A temporary truce has also been struck with China, where both sides agreed to roll back some tariffs for now. Two more deals in works Talks with India and the European Union are ongoing but remain unresolved: Negotiations with India are stuck over US demands for greater access to India's agriculture and dairy markets. The European Union is considering accepting a 10 per cent tariff on cars but wants exemptions for other sectors. Trump has sent letters to 13 countries that haven't reached deals, warning that new tariffs ranging from 10% to 70% will start on August 1 if no agreements are reached. Major U.S. allies like Japan and South Korea were among the first to receive these notices. On top of that, Trump has threatened an extra 10% tariff on countries aligning with 'anti-American' BRICS policies, though details remain unclear. The looming tariffs have fueled uncertainty in global markets and heightened diplomatic tensions. Economists caution that sharp tariff increases could risk triggering a global recession, although US markets have stayed relatively stable during the current pause. Ultimately, while the White House frames the delay as a negotiation tactic, the lack of finalized deals and growing international pressure strongly suggest that Trump was forced to extend his tariff deadline to avoid immediate economic and diplomatic fallout.
